C D S MONEY EXCHANGE BUREAU PVT LTD Vs. THOMAS COOK
HIGH COURT OF DELHI
C.D.S. MONEY EXCHANGE BUREAU PVT. LTD
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Vipin Sanghi, J. -
(1.) 1. By the present order, I propose to dispose of the aforesaid two applications - one filed by the plaintiff being IA No. 3404/02 under Order 39, rules 1 & 2 CPC seeking interim injunction, and the other being IA No. 7790/02 under Order 39, rule 4 CPC filed by the defendant seeking vacation of ex parte order of ad interim injunction dated 08-04-02 passed in IA No. 3404/02.
(2.) The plaintiff company is engaged in the business of foreign exchange. It acts as a money changer and in the process it buys traveler cheques. Plaintiff was also, at the relevant time, acting as an agent of the defendant for the purpose of selling traveler cheques in foreign exchange issued by the defendant. The plaintiff got issued three bank guarantees through its banker, defendant No. 4 wherein beneficiaries were defendants No. 1 and 2. These bank guarantees were issued in relation to two agency agreements dated 27-06-98 and 30-04-99. The details of the bank guarantees are as follows:
(a) BGNO-NDLS/BG/164/2001 for Rs.11,75,750/- favouring defendant No. 1; (b) NDLF/DF/2005-BG5/98/1383 For Rs.21,27,500/- favouring defendant No. 2; (c) BGNO-NDLF/DF/2005/BG70/1999/1382/2001 for Rs.10,73,500/- favouring defendant No. 1.
(3.) The purpose of issuance of the bank guarantees apparently was to secure the defendants in respect of the traveler cheques issued to the plaintiff for sale.;
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